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Hello, I am a doctoral student at Grand Canyon University and higher education faculty. My dissertation encompasses 21st century learning in higher education and needs of industry. I am very interested in reading your study, it is fascintating and an issue that I have a sincere passion. If you would be willing to share your study or discuss the study with me with me please contact me at brendaeckler@aol.com. I love this study and your project and definitely would like to know more. Thank you so much in advance.

Bentley University's PreparedU Project on Millennial Preparedness

1.
An In-depth Look at Millennial Preparedness for Today’s Workforce
Commissioned by Bentley University
January 29, 2014

2.
TABLE OF CONTENTS
Foreword
Background
3
5
6
Defining and Addressing Preparedness
The (Continued) Value of a College Degree
8
Preparedness Scorecards: Self-awareness, Accountability and Impact
The Skills Discussion: A Disconnect
11
The Future of Business: Millennials on the Rise
Shifting the Spotlight from Problems to Solutions
Recap and Conclusions
9
13
16
20
Bentley, PreparedU, and You: An Invitation to Join the Conversation
21

3.
FOREWORD
How should we define workforce preparedness today? How are millennials (defined as those
born between the early 1980’s and the early 2000’s) faring in today’s job market, and why
should we care? The drumbeat across America began sounding during the 2008 recession,
and has only gotten louder: millennials are unprepared for the 21st century workforce. You can
see it in the headlines: from the Los Angeles Times, “College grads still struggle to find first
good job,” to the The New York Times, “Many with new college degree will find the job market
humbling.” But how did we get here?
Due in large part to labor market damage caused by the recent recession, young people are
facing a more difficult path from college to careers than any generation in decades. The unemployment rate among young college graduates aged 21 to 24 was just under nine percent
in 2012, according to the Economic Policy Institute, whereas in 2000 it was under five percent.
The U.S. Department of Labor tells us nearly half of working college graduates are “underemployed.” The discourse tends to place the blame on inadequate training from universities and,
more commonly, on millennials themselves. We’ve all heard the stereotypes — millennials are
too entitled, self-involved, lack work ethic, don’t know how to communicate beyond their social
media accounts and have no company loyalty. However, like most stereotypes, we knew there
had to be more to the story, especially since we conduct employer and graduate surveys annually and we don’t see it reflected in the data. We realize there is more work to be done by many
but there are also very effective models in place or being piloted.
With young graduates struggling to find work and employers sounding the alarm about skills
shortages in the U.S., we were concerned that most of the research and resulting coverage
were simply tossing sound bites at the problem. Bentley University saw an opportunity to
take a holistic approach to determine how significant this lack of preparedness is, pinpoint
the causes, and identify real solutions. The Bentley University Preparedness Study is one of
the most comprehensive surveys done on the subject of preparedness for the workforce. We
talked to more than 3,100 people from nine different groups who all have a stake in this issue,
including leaders in higher education and business, corporate recruiters, current high school
and college students and their parents, recent college graduates, and the public at large. We
wanted to know how they each felt about some fundamental questions such as:
•
•
How wide is the preparedness gap? Is there a disconnect among key stakeholders in how
they view the level of preparedness of recent college graduates?
•
3
How is preparedness defined? Is there consensus across key stakeholders as to what
comprises “being prepared” for the workforce?
Will the millennial generation change the business world, or will they need to adapt to the
current workplace in order to succeed?
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4.
•
Is a liberal arts education antiquated in today’s world, or is it still giving students the skills
they need for lifelong success in the workforce?
•
Does business have an image problem? Are millennials deterred from pursuing an educa-
tion or a career in business due to the bad economy and/or recent corporate scandals?
We discovered the issue of preparedness is far more complicated than anyone has realized.
We found both agreements and discrepancies among stakeholder groups where we didn’t
expect them. Namely, there are surprising degrees of consensus where we wouldn’t expect
to see it (such as how recent college graduates are graded on their level of preparedness and
identifying solutions that would help narrow the preparedness gap). But there was also a lack
of consensus in areas we expected to find it (such as how stakeholder groups actually define
preparedness, the extent of the preparedness problem, and the importance of hard and soft
skills). The survey also reveals a surprising degree of accountability, self-reflection and selfresponsibility across all stakeholders, including recent college graduates, who took us aback
with their maturity and self-awareness.
We learned that there are pervasive misperceptions when it comes to the value of a college
degree. Along the way, we also exposed a few myths about millennials and found that opportunities for change abound. Most encouragingly, whether you are a parent of a recent college
graduate, a student, working in higher education or someone who is in a position to hire recent
college graduates, you have an important role to play in bringing change. What is most important in this debate is for business leaders, millennials and higher education influentials to learn
how to adapt to one another and find a better way to work together.
To that end, we want our survey to serve as a springboard to engage all the players in a larger, multidimensional national conversation that will ideally help bridge the preparedness gap.
One notable and fundamental aspect of the Bentley University Preparedness Study is that we
explored various solutions to the issue of preparedness, versus just identifying the problem
once again. This effort, discussed in more detail at the end of this paper, is the logical next
step in furthering our commitment to career preparedness. We invite you to learn more through
our PreparedU Project and share your point of view. Together, we can find a way to ensure
we’re delivering a return on investment to college graduates, while improving U.S. businesses
and strengthening our workforce — nothing less than the fate of a generation and our economy
depends on it.
Gloria Cordes Larson
President, Bentley University
4
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5.
BACKGROUND
Founded in 1917 and located in the Boston metropolitan area, Bentley University is one of
the nation’s leading business universities and has a 98 percent job placement rate and a 99
percent student loan repayment rate. Bentley was puzzled by the continuing public discourse
proclaiming there is a preparedness problem surrounding the millennial generation in America. To understand this in greater depth, as well as to explore potential solutions, the university
commissioned an independent, third-party research firm, KRC Research, to engage in a comprehensive research project on the subject of preparedness for the workforce. The research
involved a multi-phased approach, including a literature review of existing research and exploratory, qualitative interviews, culminating with a robust quantitative survey. The result is
The Bentley University Preparedness Study — one of the most comprehensive surveys on the
subject of preparedness for the workforce.
The main goals of the study were to gain an understanding of how key stakeholders define career preparedness; how they rate millennial preparedness; and, what they believe can be done
to ensure that millennials graduate from college ready for success in the workplace. The online
survey and fieldwork of 3,149 respondents was conducted in October 2013 by KRC Research.
The survey explored 11 different themes via more than 300 questions with nine different stakeholder groups: business decision-makers, corporate recruiters, higher education influentials,
parents of high school students (juniors and seniors only), parents of college students, high
school students (juniors and seniors only), college students, recent college graduates (those
who graduated within the past five years), and members of the general public (U.S. adults ages
18 and over). The average interview duration was 29 minutes in length and the margin of sampling error for the total sample is plus or minus 1.75% at the 95% confidence level.
5
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6.
DEFINING AND ADDRESSING
PREPAREDNESS
“Failure to prepare is preparing to fail.” – John Wooden, Former NBA Player and UCLA Head Coach
We asked stakeholders to define preparedness in their own words and found a wide variation
in how they defined it. One reason the preparedness problem exists is the lack of consensus
on what preparedness is — and this is most evident between businesses and students. Education (24%), skills (23%), personal traits (17%) and experience (16%) are cited most often as
part of the definition of preparedness by all audiences. However, it’s evident that high school
students, college students and in some instances, recent college graduates, are not recognizing certain key elements that employers say contribute to preparedness.
Compared with business decision-makers and corporate recruiters, high school and college
students were far less likely to define preparedness in terms of personal traits or work ethic:
23%
18%
7%
9%
Business Decision-Makers
Corporate Recruiters
High School Students
College Students
say preparedness is defined by work ethic
22%
Business Decision-Makers
24%
Corporate Recruiters
8%
10%
High School Students
College Students
define preparedness as adaptability, having a
good attitude, being respectful and maturity
4%
7%
19%
15%
Business Decision-Makers
Corporate Recruiters
High School Students
College Students
define preparedness as being prepared in general
6
•
One-quarter (23%) of business
decision-makers and 18 percent of
corporate recruiters say it’s defined
by “work ethic,” compared to less
than one in ten high school students
(7%) and college students (9%).
•
Likewise, nearly one-quarter of
business decision-makers (22%)
and corporate recruiters (24%) include “personal traits,” such as
adaptability, having a good attitude,
being respectful and maturity in
their definition of preparedness,
compared to only 8 percent of
high school students and 10 percent
of ollege students.
c
•
Further evidence of this lack of
consensus can be seen in defining
prepareness as “being prepared in
general,” which is cited more than
twice as often by students than by
business professionals: high school
students (19%), college students
(15%), business decision-makers
(4%) and corporate recruiters (7%).
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7.
The survey also found a gap among stakeholders when it comes to views about how strong of
a predictor a college degree is for workplace success.
•
62%
•
Sixty-two percent of
business decision-makers
are confident that graduating
from college is a sign that
someone is prepared to enter
the workforce.
7
Nearly eight in ten high school students (77%) and 74
percent of college students are confident that graduat-
ing from college is a sign that someone is prepared to
enter the workforce.
Sixty-two percent of business decision-makers –
a significantly lower rate of agreement, but still a
strong majority – feel the same. However, this does not
echo what we’re increasingly hearing and seeing re-
flected in the headlines, which is focused on concerns
about preparedness, rather than the need for
post-secondary education.
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8.
THE (CONTINUED) VALUE
OF A COLLEGE DEGREE
Despite reported concerns about the value of a college degree, we found that it is still strongly
valued by all stakeholder groups, and that a liberal arts education is not dead by any means.
In fact, we found the dominant public response to be “no”— there is no desire for colleges to
become job factories.
•
•
77%
•
More than three-quarters of
all respondents (77%) see a
college degree as essential
in today’s society.
More than three-quarters of all respondents (77%) see
a college degree as essential in today’s society.
Most also agree that the value of a college degree goes
beyond the potential earnings of college graduates.
Three-fourths (74%) say a college education provides stu-
dents not only with the skills needed for their first job, but
also benefits and skills for their entire career, along with
intangible benefits such as the ability to pursue a passion
or contribute to society.
However, students are more likely than other audiences to view college as a practicality:
•
•
8
One-third say the value of a college education is just dollars and cents (33% of college
students and 32% of high school students).
Yet just 37 percent of respondents feel that a college degree is virtually a guarantee
of success in life. Here the survey found a large gap between stakeholders: just 28
percent of business decision-makers say that a college degree is virtually a guarantee
of success in life, compared with 60 percent of high school students and 52 percent
of college students.
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9.
PREPAREDNESS SCORECARD: SELF-AWARENESS,
ACCOUNTABILITY AND IMPACT
Just how prepared are our students for their first jobs?
We expected to uncover significant disagreement but instead found a surprising degree of
consensus. There is also a surprising level of accountability, self-reflection, and personalresponsibility across the entire spectrum of stakeholders. As it turns out, those in academia
are not as insulated from reality as some may think:
49%
of higher education
influentials give
colleges and
universities a “C” or
lower on how well
they are preparing
recent college
graduates for their
first jobs.
51%
43%
35%
66%
61%
of business
of corporate
of business
of recent college
of recent college
decision-makers
recruiters give
leaders give recent
graduates say
graduates give
give the business
the business
college graduates
unpreparedness
recent college
community a
community
they have hired a
is a real problem
graduates a grade
“C” or lower on
a “C” or lower on
“C” or lower in
among their own
of “C” or lower.
how well they
how well they
being prepared for
cohort.
the job.
are preparing
are preparing
students for their
students for their
first jobs.
first jobs.
Despite the stereotype that millennials tend to blame others for their own problems, recent college graduates are surprisingly mature, as shown by the level of self-awareness they express.
Some millennials may be buying into the hype about their generation having less incentive to
work hard and more self-entitlement than other generations.
60%
Themselves
42%
Their Colleges or Universities
31%
13%
Their Professors
Business
WhoM do recent college graduates
blame for their level of preparedness?
Note: Multiple responses permitted
9
•
Thirty-seven percent of recent college gradu-
ates give themselves a grade of “C” or lower
on their individual level of preparedness.
Nonetheless, six in ten (60%) recent college
graduates in this group blame themselves for
their unpreparedness for their first job, with
no close second: four in ten (42%) blame
their colleges or universities, followed by
one-third (31%) who blame their professors
and 13 percent who blame business.
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10.
Compared to their kids, parents are more inconsistent, or self-deceiving, in that they are critical of recent college graduates in America overall, but believe their own children in college are
prepared for their first jobs.
•
Nearly two-thirds (63%) of parents of high school students and parents of college students
give recent college graduates a “C” or lower on their level of preparedness for their first jobs.
•
However, seven in ten parents of college students (71%) give their own child a grade of “A”
or “B” for their level of preparedness for their first job.
62%
So what is the impact of this lack of preparedness?
Across the board, stakeholders agree that lack of
preparedness is a problem that does not just affect
the individual.
•
Six in ten of all respondents (62%) see
the level of preparedness of recent
college graduates for their first job as
a real problem in America today.
More than six in ten of the business and higher education communities (61% of business decision-makers,
63% of corporate recruiters, and 66% of higher education influentials) and 61 percent of millennials see
the level of preparedness of recent college graduates
for their first job as a real problem.
•
74%
Three-quarters of all respondents
(74%) believe the lack of preparedness
of recent college graduates
contributes to the economic problems
facing the country today.
Three out of four (74%) respondents believe the lack of
preparedness among recent college graduates contributes to the economic problems facing this country
today. High school students (82%) and college students (81%), surprisingly, feel most strongly. Among
those in the business and higher education communities, seven in ten (68% of business decision-makers,
73% of corporate recruiters, and 73% of higher edu-
cation influentials) agree.
Individual businesses also suffer from this lack of
preparedness.
•
Two-thirds of business leaders (64%)
agree that newly hired recent college
graduates who are not well prepared
More than six in ten business leaders (62% of busi-
ness decision-makers and 66% of corporate recruit-
ers) say that newly hired recent college graduates harm
the productivity of their organization’s day-to-day busi-
ness function because they are not well prepared.
64%
harm the productivity of their
organization’s day-to-day business.
10
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11.
THE SKILLS DISCUSSION: A DISCONNECT
Hard Skills
19%
21%
Soft Skills
14%
17%
Equally Important
66%
62%
Now
In 10 Years
Six in ten of all respondents say that hard
and soft skills are equally important today
(66%) and ten years from now (62%).
Most of those we surveyed say hard and soft
skills are equally important for success in the
workplace (total 66%). Hard skills refer to tangi-
ble skills, such as a student’s technical, professional, and prescribed skills, while soft skills have
more to do with people and interpersonal skills,
such as communicating well, teamwork and
patience. Respondents anticipate that hard and
soft skills will remain equally important 10 years
down the road (62% total, 63% of business
decision-makers, and 54% of corporate recruiters).
Yet, business is conflicted with respect to the skills they desire and consequently they are sending mixed signals to the marketplace, which is creating ambiguity and downright confusion. On
one hand, majorities of business decision-makers and corporate recruiters say hard and soft
skills are equally important for success in the workplace. On the other hand, when it comes
down to hiring, business leaders would prefer to take on a recent college graduate with industryspecific skills who may be slower to advance later on, rather than the liberal arts graduate who
needs to be trained (65% of both business decision-makers and corporate recruiters say this).
Business leaders continue to send mixed signals when ranking the importance of individual skills:
•
Business leaders put soft skills on top: integrity is most important, with eight in ten busi-
ness leaders saying it is very important for success in the workplace (84% of business
decision-makers and 78% of corporate recruiters). Other highly-prized soft skills include
professionalism (75%), positive attitude (75%), oral communication skills (71%) and working
well as a team player (71%).
•
Business leaders put industry and job-specific skills at the very bottom of their list of
importance, with only 40 percent saying these hard skills are very important to success in
the workplace.
•
In fact, business decision-makers (38%) and corporate recruiters (42%) give job-specific
knowledge a much lower grade, in terms of importance, than parents (58%), higher education
influentials (49%) and the general population (61%). Yet, as we shall see, this also contradicts
their preferred profile of new hires. The same holds true when asked about which skills they
wished they had developed more fully, with technical skills mentioned as often as soft skills.
This preference for soft skills echoes what we are hearing in public discourse:
“Higher education should ensure that graduates have problem solving and communication skills, and strive to inculcate critical thinking and responsible citizenship.”
– Atul Gupta, Professor of Finance, Bentley University
11
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12.
“The technical term for navigating a workplace effectively might be soft skills, but employers are facing some hard facts: the entry-level candidates who are on tap to join the ranks
of full-time work are clueless about the fundamentals of office life.” – Martha White, Time
Given the employers’ preference for soft skills, many students are likely misusing or under
leveraging their collegiate experiences; they are too focused on their first job and specific hard
skills, and ignoring important life lessons needed for career success through soft skills. We
found that not only do students and recent college graduates overestimate the strength of their
skills, but their perception of which skills are important do not align with that of employers.
This finding could indicate that students and recent college graduates are focusing on developing less important skills.
Students and recent college graduates grade themselves higher on all skills than business
leaders grade them. Four in ten business leaders give recent college graduates a “C” or lower
on their hard skills (45% of business decision-makers and 39% of corporate recruiters), while
only 20 percent of recent college graduates give themselves a “C” or lower on their hard skills.
Similarly, only a quarter of high school students and college students (25%) grade themselves
with a “C” or lower on their hard skills. The gap is even greater when it comes to soft skills:
•
Six in ten business leaders (63% of business decision-makers and 57% of corporate
recruiters) give recent college graduates a “C” grade or lower on their soft skills. Only 22
percent of recent college graduates grade themselves as a “C” or below on their soft skills.
Of the three skills that business decision-makers and corporate recruiters rate as most important,
students and recent college graduates rate those skills significantly lower on importance:
•
Integrity (81% of business leaders and 63% of students and recent college graduates combined)
•
Integrity
Professionalism (75% of business leaders and
81%
69% of students and recent college graduates
63%
combined)
•
75%
Positive attitude (75% of business leaders and
69%
68% of students and recent college graduates
combined)
Positive Attitude
Interestingly, when asked to look back on their own
experiences, more than half of recent college graduates say they wish they would have learned more
hard skills in college (57%). Meanwhile, 55 percent of
business decision-makers and 60 percent of corporate
recruiters say they wish they had developed more soft
skills in college.
12
Professionalism
75%
68%
Business
Leaders
Students and Recent
College Graduates
Business leaders have different ideas than
students and recent college graduates when
it comes to which skills they believe are
most important for success in the workplace.
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13.
THE FUTURE OF BUSINESS:
MILLENNIALS ON THE RISE
Business is seen as being a part of the solution to many societal ills in a way it hasn’t been before.
Nine in ten of the total population surveyed feel businesses have the opportunity to improve
society (88% total, 95% of business decision-makers, 91% of corporate recruiters and 87% of
millennials), and businesses need recent college graduates to help them do so. The majority
also say business is a positive force in society (86%) and that high school and college students
choosing to have a career in business is a good idea (89%). Majorities believe people in business do the right thing when faced with a tough decision (60% of total respondents), but there
is no consensus around this issue.
Overall, we found that those who are in business are satisfied in their careers: more than nine in ten
say they are satisfied, particularly business decision-makers (95%) and corporate recruiters (96%).
Business leaders overwhelmingly agree that recent college graduates can be very successful
and very happy if they choose a career in business (96% of business decision-makers and
91% of corporate recruiters). Unfortunately, millennials do not think as highly of business and
are not as enthusiastic about entering the business world.
Millennials and Business
Business has a reputation problem, especially among millennials, at a time when businesses
need them in the workforce. However, it isn’t clear or explicit that this negative perception is
keeping millennials from pursuing a career in business. It could be that millennials lump traditional businesses with the ugliness of Wall Street scandals, and therefore seek out employers
that are committed to social responsibility/innovation to match their entrepreneurial spirit. We
found that when millennials evaluate whether they might want to work at a company, they aren’t just crunching the numbers. Although they know that businesses can help make a change,
just over half of millennials have concerns about how they operate.
•
For example, fewer millennials (49%) than non-millennials (70%) say people in business do
the right thing when faced with a tough decision.
•
Rather, millennials say it’s important for them to work for a socially responsible or ethical com-
pany (85%). A company’s corporate reputation (95%) and social impact efforts (91%) are also
important to nearly all millennials when considering which companies they want to work for.
Loyalty between millennials and companies, or lack thereof, is also an issue of concern.
•
13
Half (51%) of business professionals and more than half (58%) of millennials agree that
businesses tend to think of millennials as dispensable — just another employee who will
be gone in a few years — and, thus, don’t invest in their career development.
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14.
“[Millennials] perceive themselves as more loyal to their values than to a particular
company… I did not sense that they would be likely to identify with their organizations
as if it were a sort of home or family. And reciprocally, they do not expect that kind of
loyalty from their employer.” – Orlando Barone, Wharton School of Business
•
Fifty-five percent of millennials feel loyal to the companies they work for and, in turn, do
not expect the companies they work for to be loyal to them (51%).
•
Nearly three-fourths (72%) of non-millennials agree that millennials do not feel loyal to the
companies they work for, and 63 percent of non-millennials agree that millennials do not
expect the companies they work for to be loyal to them.
While we did not uncover any major sentiment indicating that millennials are not going into
business due to negative perceptions of the business world, the majority say they are, nonetheless, not considering a business career (64%). Among those who are not considering a
career in business, more than a third say they are simply pursuing a different career path (36%),
while 42 percent are just plain uninterested in business.
Attitudes Towards Millennials
Today’s discourse about millennials is fraught with a myriad of complaints about attitude problems, the value they place on personal time above all else, and selfishness. It often seems the
only voices defending millennials are the millennials themselves. However, we found that feelings about millennials are not so cut and dry. While most non-millennials have positive attitudes towards millennials, finding them relatively easy to relate to (61%) and easy to work with
(65%), many find them difficult to manage (67%) and feel they lack respect for others (51%).
•
Thirty-nine percent of non-millennials agree that they have
trouble relating to millennials; 35 percent of non-millennials
agree that millennials are difficult to work with.
•
For their part, 66 percent of millennials believe that older
generations don’t understand them and people their age.
There is currently a prevalent sentiment among older generations that millennials lack a strong work ethic in the workplace.
We found there are clear differences of opinion between millennials and non-millennials when it comes to questions about
work ethic.
14
66%
For their part, 66 percent of millennials
believe that older generations don’t
understand them and people their age.
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15.
•
Nearly nine in ten millennials (89%) contend they have a strong
work ethic, yet three-quarters (74%) of non-millennials believe
that millennials lack the work ethic of older generations
74%
in the workforce.
•
Seventy percent of those in older generations think millennials
of non-millennials believe that
are not as willing as they should be to “pay their dues.”
millennials lack the work ethic of
•
Interestingly, while more than half of millennials (55%) say they
are willing to “pay their dues,” 45 percent of millennials admit
that their own generation, in general, is not willing to “pay its
dues” as prior generations did.
But could it be that millennials are just misunderstood?
older generations in the workforce.
78%
•
•
Nearly eight in ten (78%) non-millennials think that millennials’
will allow them to get ahead in
advanced technological skills will allow them to get ahead in
the workplace.
the workplace.
•
15
Seventy-four percent of non-millennials agree that millennials
offer different skills and work tyles that add value to the
s
workplace (83% of millennials agree).
Contrary to what many may assume about millennials
expecting others to conform to their work style, the majority
of both millennials and non-millennials agree that millennials
will need to change to conform to the workplace, rather than
the other way around (56% of millennials, 67% of non-millen-
nials, 63% of business decision-makers, and 50% of corpo-
rate recruiters).
Nearly eight in ten (78%) nonmillennials think that millennials’
advanced technological skills
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16.
SHIFTING THE SPOTLIGHT FROM
PROBLEMS TO SOLUTIONS
From a solution standpoint, everyone can do more. Among all of the solutions tested, the most
popular puts the responsibility on students, followed by colleges and universities, business
and, finally, parents. Here’s how the 16 tested solutions fared:
AGREE
DISAGREE
Students must commit to being life-long
learners both inside the classroom and beyond.
94% 6%
College learning must incorporate and blend
together academics and hands-on learning.
94% 6%
Colleges need to incorporate cutting-edge
technology throughout their campuses to familiarize
their students with the latest tech capabilities.
Colleges and universities must improve career services by
understanding what businesses are looking for in terms
of internships, resumes, cover letters, and interviews.
87% 13%
Colleges and universities need to work harder at
defining proper fit for applicants via counseling
and/or skills and interests testing.
86% 14%
Parents should encourage their children to
take business classes because they teach skills
that can be applied to any career.
85% 15%
Business professionals should enter the classroom
as lecturers to impart their real-world expertise
to students.
85% 15%
Career services must begin freshman
year of college for all students.
16
90% 10%
85% 15%
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17.
AGREE
DISAGREE
Colleges and universities need to develop and
implement more programs to encourage women to
pursue business education and leadership opportunities.
84% 16%
Students must realize that a combination of business
skills and arts and sciences will help them land jobs
and advance throughout their careers.
84% 16%
Internships need to be mandatory for students
in order to gain real-world experience.
82% 18%
Businesses should work with colleges/universities
to update and revise business curriculum.
78% 22%
Students must prepare to be “prepared” by beginning
their college career — on Day One — with a clear set
of goals and objectives for their education.
74% 26%
Colleges and universities need to integrate liberal arts
and business courses into a single curriculum.
70% 30%
Business classes should be mandatory in all colleges
and universities for all majors.
More students should go to graduate school to become
more prepared for their first jobs and their careers.
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65% 35%
61% 39%
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As we have seen, all stakeholder groups recognize that they are part of the preparedness problem, but, more importantly, they also agree that each group has a role to play in the solution.
94%
agree that students must commit
to being life-long learners both
inside
the classroom and beyond.
Role of Students: Among all respondents, 94 percent agree that students
must commit to being life-long learners both inside the classroom and beyond.
Business decision-makers are most enthusiastic about this solution (97%),
and more than half of students strongly agree, putting the responsibility on themselves (58% total, 51% of high school students and 52% of college students).
Role of Colleges and Universities: Nearly all of those polled agree that institutions of
higher education should be doing more to address preparedness: 94 percent agree that colleges need to combine academics with hands-on learning. Half of higher education influentials
strongly agree that this should happen and that they are a part of the solution as well (53%).
Universities should also incorporate cutting-edge technology throughout their campuses to
help students keep pace with the latest advances (90% of total respon-
dents agree) with more than eight in ten (85%) higher education influentials
in agreement. Most feel that career services should begin advising under-
agree that colleges need to
graduates during their freshman year and should impart real-world exper-
combine academics with
hands-on learning.
tise to students (85% of total respondents). Nearly four in ten higher education influentials strongly agree that career services must start freshman year (36%); while
corporate recruiters, those who interact with career services departments most, are most apt
to agree strongly (47%).
94%
Role of Business: There is a consensus across all respondents (87%) that business should
work with colleges/universities to improve career services in order for colleges to better understand what businesses are looking for in terms of internship experiences, resumes, cover
letters and interview experiences. However, the onus is not solely on universities to understand
business. Since only half of respondents see businesses as doing a good
job in preparing new hires who are recent college graduates for their first
jobs (53%) and their careers (51%), there is a strong belief among all
agree that business should
work
with colleges/universities
stakeholders that businesses need to do more in preparing students by
to improve career services.
partnering with colleges and universities in developing professional curricula
(78%). Four in ten business leaders strongly agree that they should do their part and work
with career services to help set expectations (41% of business decision-makers and 47% of
corporate recruiters).
87%
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19.
Many stakeholders are proponents of business involvement starting as early as high school to
help students prepare for college, as well as their entire careers. Six in ten believe high school
students should have field trips to or visits from different types of businesses to expose them
to different careers (61%), and that they should receive information about career options and
colleges that have majors that could prepare them for those careers (59%).
Role of Parents: Finally, there is a role for parents in ensuring that their children are prepared
for success in the workplace, with 85 percent of total respondents agreeing (and four in ten
strongly agreeing) that parents should encourage their children to take
business classes because these classes teach skills that are applicable
to any career. Business professionals are most likely to strongly agree
agree that parents should
(46% of business decision-makers and 48% of corporate recruiters),
encourage their children to
and nearly four in ten parents of high school and college students (39%)
take business classes to gain
skills applicable to any career.
strongly agree.
85%
As acknowledged by students, parents have a major influence on their children’s career decisions and, therefore, should be part of solving the lack of preparedness among their children. Millennials cite a number of sources that have influenced their feelings about going into
business, their parents being the most influential (40%), followed by their friends (30%) and
businesses (28%). Additionally, millennials who work in business or are considering a career
in business are much more likely (46%) to say that their parents influenced their feelings about
going into business than those who are not going into business (34%).
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20.
RECAP AND CONCLUSIONS
At a time when opinions about most public issues are divided, the Bentley University Preparedness Study has identified a surprising point of consensus on the question of workforce preparedness. Unfortunately, the consensus, even among current students, recent college graduates and
members of the business and higher education communities, is that the youngest members of
the workforce are not in fact well prepared to begin their careers. It turns out that when it comes
to helping today’s youth succeed in the workforce, all stakeholders are “C” students at best.
But while stakeholders across the spectrum see the lack of preparedness as a real problem,
they also display a surprising willingness to take personal responsibility. While some in academia may be reluctant to change, the higher education community acknowledges that colleges and universities are not doing enough to prepare recent college graduates for their first
jobs. Those in the business community say they also could be doing more, and perhaps most
surprisingly, millennials themselves give recent college graduates a grade of “C” or lower in
preparedness for their first job. Despite the view of millennials as the “it’s not my fault” generation, nearly four in ten grade their own personal preparedness as a “C” or lower.
Though quick to acknowledge their own role in this problem, most respondents are not ready to
disregard the value of college. While a growing chorus of headlines call into question the necessity
of a college education in today’s economy, the stakeholders see college degrees as worthwhile
and necessary in preparing students for success in the 21st century workforce. However, it’s likely
that many students are underleveraging their college experiences by overlooking the importance
of developing soft skills. While business leaders are sending unclear signals as to which skills –
hard or soft skills – are more important, it’s evident that millennials are undervaluing soft skills.
What is clear is that the current lack of preparedness among millennials could have direct consequences on company productivity and our economy. Thus, it’s crucial that all stakeholders work
together to find a way to close the skills gap. Encouragingly, all stakeholders recognize that they
are part of the preparedness problem, but more importantly, they also agree that each has a role
in solving it:
•
•
On campus, colleges and universities should place greater importance on hands-on learning
and career advising, and need to begin offering real-world career expertise and advice
freshman year.
•
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Students need to commit to continuing their education for life, and parents should encour-
age their kids to take business classes even if they are not interested in a business career,
as those skills will help them in whatever field they choose.
Finally, businesses must collaborate with colleges to help develop professional curriculums,
improve career services and enable colleges to better understand what businesses are
looking for in their future employees.
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BENTLEY, PREPAREDU AND YOU: AN
INVITATION TO JOIN THE CONVERSATION
The Bentley University Preparedness Study is just the beginning. As a “single cell” university
– one that does not separate its business and arts/science schools – we feel that Bentley University can play a crucial role in making change. We are convening a national dialogue through
the PreparedU Project, a career preparedness initiative supported by our research study, so that
stakeholders from business, higher education, parents and millennial audiences can review the
results and develop solutions, rather than sound bites, to help close the skills gap.
To keep the momentum going, one of Bentley’s first initiatives is a live streaming conversation
at Bloomberg headquarters in New York City hosted by Gloria Larson and Carol Massar, cohost, Bloomberg’s “Taking Stock.” The event will offer a call to action for corporate America to
engage with higher education in developing new partnerships that can bridge the preparedness gap. But our efforts won’t stop there. We are seeking input from all stakeholder groups in
this continuing conversation including feedback on key findings, publishing opinions, examples
from your own experience or suggestions for solutions. We invite you to reach out to us online using #PreparedU on Twitter and Facebook, and visit www.bentley.edu/preparedu. We
know that a number of other colleges and universities, along with Bentley, and some businesses have successful programs underway already. We are confident that, together, we can develop even more solutions that can benefit everyone involved in the preparedness challenge.
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